Auto Loan Calculator
Calculate your car loan payments and total cost of ownership
Calculate Your Auto Loan
Auto Loan Summary
Loan Details
Cost Breakdown
Amortization Schedule
| Year | Principal (A) | Interest (B) | Total Payment (A + B) | Balance | Loan Paid To Date |
|---|---|---|---|---|---|
| + FY26 | $6,563 | $3,285 | $9,846 | $73,437 | 8.20% |
| + FY27 | $13,990 | $5,705 | $19,692 | $59,446 | 25.69% |
| + FY28 | $15,226 | $4,468 | $19,692 | $44,219 | 44.73% |
| + FY29 | $16,573 | $3,123 | $19,692 | $27,646 | 65.44% |
| + FY30 | $18,036 | $1,658 | $19,692 | $9,608 | 87.99% |
| + FY31 | $9,608 | $240 | $9,846 | $0 | 100.00% |
Understanding Auto Loans
Make informed decisions for your vehicle financing
What is an Auto Loan Calculator?
An auto loan calculator is a financial tool designed to help you determine the monthly payments and total costs associated with financing a vehicle purchase. It takes into account factors like the price of the car, down payment, trade-in value, interest rate, loan term, and sales tax to give you a comprehensive view of your auto loan financing and help you make well-informed decisions.
Key Features
- Calculate monthly payments based on vehicle price, down payment, and trade-in value
- Account for sales tax in your calculations
- Visualize how different loan terms affect your monthly payments
- See a complete amortization schedule showing each payment breakdown
- Determine the total interest paid over the life of your auto loan
- Choose from multiple currency options for international users
How to Use This Calculator
- Enter the vehicle price: Input the total purchase price of the vehicle you're interested in
- Specify your down payment amount: Enter how much you plan to pay upfront
- Include any trade-in value: If you're trading in a vehicle, add its value here
- Input the interest rate: Enter the annual interest rate offered by your lender
- Select your preferred loan term: Choose how many years you want to finance the vehicle
- Enter your local sales tax rate: Include the applicable sales tax percentage for your location
- Click "Calculate": Review your results in the summary and charts
Common Use Cases
Car Shopping
Determine how much car you can afford based on your budget and preferred monthly payment
Loan Comparison
Compare loan offers from different lenders with varying interest rates and terms
Refinancing Analysis
See if refinancing your current auto loan would save you money in the long run
Down Payment Planning
Understand how different down payment amounts affect your monthly payment and total interest
Auto Financing Comparison
Smart Auto Financing Tips
- Consider making a larger down payment (20%+) to reduce monthly payments and total interest costs
- Shop around for the best interest rates from different lenders before visiting the dealership
- Get pre-approved for financing to strengthen your negotiating position
- Factor in additional costs like insurance, maintenance, registration, and fuel when budgeting
- Check your credit score before applying; better scores typically qualify for lower interest rates
- Consider refinancing in the future if interest rates drop or your credit score improves
True Cost of Vehicle Ownership
Remember that the loan payment is just one part of your total vehicle cost. Consider these additional expenses:
Insurance
Maintenance
Fuel
Registration
Depreciation
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